EG’s most-read and must-reads: 13-17 May

Here’s a wrap-up of some of the most popular stories on EG from the past week. Palm Capital has brought Abbey Gardens, a 155,000 sq ft office block in Reading, back to market at a reduced price of £25m. The investor had previously appointed DTRE to market the asset in 2022 for offers over £53m. The new asking price reflects a 10.83% NIY, with the site being marketed as a redevelopment play for alternative uses. Landmark Reading office block back on the market at 50% off Westminster City Council’s planning committee signed off on the office-led redevelopment of a former police station on Savile Row, with a majority vote against officers’ recommendation to refuse. Councillor Jim Glen said approving the scheme would send “the ultimate message about Westminster and Savile Row being open for business”.Savile Row police station redevelopment approved Brookfield Properties has signed managed office provider the Instant Group to manage 11,000 sq ft of flex space at 100 Bishopsgate.Brookfield signs Instant at 100 Bishopsgate Knight Frank Investment Management is looking to sell 122 Waterloo Street in Glasgow, Morgan Stanley’s largest office in Europe outside of London.Morgan Stanley’s Glasgow office hits the market Measures to enable local authorities to put empty high street shops into rental auctions will be in force by the summer. The first auctions are set to take place in September this year, and the first shop occupied and open to the public in October. The government is launching a “trailblazer” programme to support communities in implementing the powers.High street rental auctions to take effect in summer Other stories you might have missed: Lord Harrington on real estate’s role in bringing investment to the UKGrainger on acquisition hunt for rivals’ BTR portfolios Defra urged to plug gaps in biodiversity scheme Landsec and Lewisham: ‘A long journey, but worthwhile’ Arup report urges industry to regenerate the planet Savills looks to rising deal flow in second half BTR planning backlog squeezes pipeline Have your say: Is real estate a welcoming sector for LGBTQ+ professionals? For your listening pleasure from EG’s Property Podcasts: ‘Participate, participate, participate’ – the importance of having your voices heard in EG’s LGBTQ+ survey Image © Jason Hawkes